Salt Lake City to bid for 2030 Olympics, thinks it can host without losing money

Salt Lake City will bid for its second Winter Olympics this century, and its status as a potential repeat host is one of the many reasons it feels it’s qualified to bring the Winter Games back to the United States.

Many studies have shown just how financially burdensome the Olympics can be to a host city, which is why the conclusion of Salt Lake’s exploratory committee is so intriguing. In part because of growing concerns about that burden, only two cities bid for the 2022 Winter Games, which were awarded to Beijing. Many, including Boston, dropped out of the 2024 bidding as well. In light of those concerns, the IOC announced “Agenda 2020,” a “strategic roadmap” that calls for fewer expensive projects and better use of infrastructure already in place.

Projections like that of Salt Lake’s committee often undersell the true cost of hosting the Olympics. Low numbers make bids more attractive to the IOC, but are rarely met. Spending almost always eventually exceeds them. The 2018 PyeongChang Games, which begin this week in South Korea, could nearly double cost estimates by the time all is said and done.

There will be skepticism, therefore, that Salt Lake could actually spend less than $1.5 billion on the project. But even if it were to spend $5 billion, or three times as much as projected, it would still be considered relatively cheap. PyeongChang’s cost is currently pegged at $12.9 billion.

One strike against Salt Lake, however, will be the alleged corruption surrounding the 2002 Olympics. Accusations of bribery dogged the bidding process. Six IOC members were ultimately recommended for expulsion for their part in the scandal.

But Utah officials expressed confidence at a news conference on Wednesday. They said Salt Lake is also open to hosting the 2026 Games, which have not yet been awarded. But 2030 is more realistic, with a European city seemingly likely to get 2026.

Salt Lake is the first American city to announce its intention to bid. Denver and Reno, Nevada are also considering doing so.

The United States Olympic Committee must decide somewhat soon whether to submit a bid for 2026. The 2030 Winter Games might not be awarded until 2023, but Salt Lake officials noted the possibility of a dual award for 2026 and 2030 as a reason for their early announcement.